I am 19, and I’m a learner swing trader who has found modest successes for a beginner stock market swing trader after reading swing trading for dummies – it’s helped a lot.
What I would like to know is if there are any other stock swing traders out there who trade successfully. And also, what are the secrets to your successes and the causes of your failures?
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Are There Any Successful Stock Swing Traders Out There? If So, What Are The Secrets Of Your Successes?
Posted on September 12, 2010.
I’ve been in this business for 40+ years and been active in the market for nearly 60 years.
I’ve seen almost all of it, but I did learn many years ago that before you invest $.01 you must know what you are doing, why you’re doing,. how to do it. the rules governing what you are doing. You never stop learning, and must keep educating yourself constantly.
You must have a written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself. and the discipline to follow such a plan. Before you enter a trade, you must know when and where you are going to get out of it, you never trade on emotions, and you never never average down – if your down 8%, you get out.
You must have sufficient trading/investment capital. Use your own money, there’s no need to go into debt so that you can trade/invest.
And you need a written money management program in place. Remember never invest 100% of your capital into any one security and never have 100% of your capital invested at any one time.
And more importantly, you must have an god understanding of the rules & regulations of the industry.
Trading is not only about making money, it also about protecting what you have. You need not need to make money on every trade, you just have to have more wining trades than loosing ones. If you’re right 30% of the time you can make a very decent living by trading.
If you follow these rules you will be sucessful, if you don’t you will fail.
hiiiiiiiiii u so young to stock market plz 1st u learn then u invest there is no secrets of share markets if u r long term invester then ok .if u r day trader i bet u u lose your all moneny sa plz only invest to long term not short term
I day trade. $9,000 days of a win are awesome. But I’ve studied for several years. To actually make $ you need at least $60,000 to trade with. I do lose too lol. Today I didn’t make any $ yet.
There is no simple answer.
Check out the link below…